AccorHotels invests in Turkey-based Rixos Hotels
AccorHotels said that, in an effort to expand its growth in the upper upscale and luxury market, it would enter into a long-term joint venture with Antalya, Turkey-based Rixos Hotels.
Earlier this week, AccorHotels announced yet another investment, marking the company’s second major deal for 2017, following its intended purchase of Travel Keys. The Paris-based hotel company said that, in an effort to expand its growth in the upper upscale and luxury market, it would enter into a long-term joint venture with Antalya, Turkey-based Rixos Hotels.
Rixos operates 20 resorts and hotels primarily in Turkey and the Middle East, and has also invested in Turkey’s largest entertainment center, the Land of Legends theme park which opened in July 2016.
Under this partnership, AccorHotels will eventually own a 50-percent stake in the joint venture management company and will integrate 15 Rixos properties into its network. The remaining five city center hotels will be reflagged to AccorHotels brands and will be managed by Accor. Rixos is also planning to add a second hotel in Dubai and two other properties in Abu Dhabi and the Maldives by 2018, and this partnership also includes management of the hotel within the Land of Legends theme park.
During a press conference on March 6, AccorHotels CEO Sébastien Bazin said, “In order to penetrate such a large but difficult country, you can only do it if you find the right partner with whom you can interact with, who you can take the risk [with].” He added, “Everything worked from the very first day. No second guessing a lot of trust a lot of respect a lot of common will to build something together.”
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